Vivo secures USD391m loan from EIB for GSM overlay

18 Mar 2008

Brazilian mobile operator Vivo Participacoes has secured a USD391 million loan facility with the European Investment Bank (EIB) to deploy its GSM overlay network in Brazil, the bank said in a statement. Vivo’s GSM project involves the design, installation, commissioning and operation of a mobile network in the 850MHz band, including related investment infrastructure, operational support and IT systems to facilitate the cellco’s planned migration from a CDMA-based network to a GSM one.